X @Elon Musk

RT Handre (@Handre)The Japanese railway privatization of 1987 stands as one of the most devastating defeats ever dealt to statist transportation mythology. The government split the bloated Japan National Railways into seven regional companies, sold them off, and watched private ownership transform a bankruptcy-bound disaster into the world's most efficient rail system.JNR hemorrhaged money for decades before privatization. By 1987, the state railway carried debt equivalent to $200 billion in today's money w ...